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  • FIRST POST
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 11th Mar 17, 11:56 PM
    • 120Posts
    • 499Thanks
    DeterminedSingleMummy
    Overpayment Addict
    • #1
    • 11th Mar 17, 11:56 PM
    Overpayment Addict 11th Mar 17 at 11:56 PM
    Hi everyone, I've been reading lots of your stories and decided I should document mine too for lots of reasons...

    1. The motivation and support all you lovely people have given each other is amazing (I would like some of that please )
    2. Keep myself focused and see if I can push my overpayments higher
    3. Share my frugal experiences with you all
    4. Track progress of all over payments.
    5. I'm sure there's more but too tired to think atm...

    I've had my mortgage since 2009, moved to a bigger property in Dec 2011 with a mortgage of £87,500. I paid my mortgage every month but I also enjoyed myself every month (partying, cinema, food etc) and overpaying my mortgaging never crossed my mind... Having my DD in 2013 is what changed everything for me. The focus was no longer on me enjoying my life but her enjoying hers. I am a single mum and unfortunately I could not carry on with the job that I was doing before I had DD. I never want to be in a position where I've got to tell her no we can't do/have something because we have no money and that's where my overpaying addiction started...

    I never had any budgets, I would use my credit card and pay it off in full every month on payday. And because of this I struggled throughout my whole maternity, at first I thought it was all the baby stuff I was buying but it was clear after a few months that not having a budget was not going to work....

    From then on I have been focused on overpaying my mortgage and my balance today is £54631.
    I will have to dig out my mortgage statements to give u a summary of overpayments I've been making but at first it was £260 a month, then it went to £360 a month and now I over pay £500 a month... sometimes I don't even know how I do it as I only work part time and I do spoil DD a lot but I've been sticking to my spreadsheets and have been addicted to overpaying my mortgage and seeing that balance drop.

    My mortgage rate is 1.99% and it's fixed until Jan 2019 and I can start looking for a new fix four months before which is Sept 2018. There is 11 years and 5 months (I think, waiting for my letter from my latest overpayment) DD is 4 currently so I am aiming to pay off my mortgage by the time she is 10 which gives me 6 years. According to the overpayment calculator if I am on track with my overpayments of £500 a month I should have cleared it in 5 years. However I do sometimes miss a month not often tho... the mortgage taken out in 2011 was a 20 year mortgage so that would have ended Dec 2031. My current end date is August 2028 (I think...) Aiming to be mortgage free in 2023

    Well that's all for now... if I've missed out any info please ask and I will update you
Page 6
    • RandomNerdery
    • By RandomNerdery 30th May 17, 1:45 AM
    • 3 Posts
    • 4 Thanks
    RandomNerdery
    I'd never thought about trying to overpay my mortgage before until coming across this forum - you guys are all so inspirational that I think I need to start making some cuts!! I especially need to try the no-spend-weekends!
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 30th May 17, 7:51 PM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    Hi randonnerdery, I thought that the mortgage end date that was agreed was the day that my mortgage would end. I didn't know about overpayments until this forum and am doing everything I can to reduce the term

    Total for May

    1. Ebae earnings May £97.60 (16 items)!
    2. Surveys/mystery shopping - (£0.30 can't cash this out so I won't count this in this month)
    3. Interest/Cashback from 123 account - £11.33
    4. Other cashback - £26.67!
    5. Savings from weekly budget - £30.88
    6. Overtime in work £0 (next payday is 2nd June)
    7. Other £55 (£30 TCB uswitch energy and £25 from helping friend)!

    Santander 5% regular saver will be paid in March 2018.(£64.33)
    HSBC regular saver at 5% will be paid in May 2018. (£81.25)

    EBae target £215.35/£180 for DDs swimming lessons until the end of this year achieved in two months the extra £35.35 Will go towards overpayment pot! Yay!

    Other earnings total up to £123.88 plus the £35.35 eBay excess is £159.23.

    £192.14/£221(remaining overpayment figure for this year) before extra money goes towards next year's overpayment target.

    Current Mortgage end date August 2027
    Original Mortgage end date December 2031

    I hope all of that made sense to everyone...

    X
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • Thisgirlcan
    • By Thisgirlcan 30th May 17, 9:52 PM
    • 11 Posts
    • 36 Thanks
    Thisgirlcan
    This is amazing, well done!


    I'm desperate to start overpaying and my husband is keen but doesn't think it's possible and he doesn't want to switch to a lower rate % either.

    ....So I'm going rogue

    Really inspired by your overpayments and calculations so far!
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 31st May 17, 4:11 PM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    Hi TGC. Why doesn't he want to switch to a lower % and pay less money? Is he mad lol I know a lot of people in work can't understand overpaying mortgage so that's why this forum is great

    Earnt £8 cashback on my creditcard which will be paid at the end of June so that's a good start to June's figures.

    Managed to pick up a lovely steak for dinner too for £1 love my yellow stickers lol

    Maybe doing some more overtime tomorrow. Trying to get as much as I can before the school holidays and hopefully it'll balance out over the months.

    Xx
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • Thisgirlcan
    • By Thisgirlcan 31st May 17, 10:16 PM
    • 11 Posts
    • 36 Thanks
    Thisgirlcan
    Fab! I do like yellow stickers too although my freezers are so full at the moment I must not pick up anything else!

    I don't know, i find it frustrating. He thinks the rates will go up after, higher than now. Weve even done it all with the broker and he's just sat on the paperwork so that's that really.
    I'm just going to start overpaying and then explain that if we reduce the rates and can overpay even more he can retire even earlier 😂
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 1st Jun 17, 3:17 PM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    Surely of he thinks rates are going to increase then overpaying now is better so your balance will be lower when the rate increases? Some people just don't want to overpay their mortgage, I've had many debates with people about pros and cons of it. I suppose it's just personal opinions lol

    My freezer is full too but when u see really good quality meat for cheap I can't resist but buy it and freeze lol

    Mortgage is now under 50k yay!!! 49809 to be exact! Couldn't see the interest on my online banking today so will check tomorrow to see how much it has gone down by.

    Payday is tomorrow and I've checked my payslip and there is £70 extra which will go towards op

    Lovely day today hope everyone is enjoying their week

    Xx
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 2nd Jun 17, 6:57 AM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    1. Ebae earnings June
    2. Surveys/mystery shopping - (£0.30 can't cash this out so I won't count this in this month)
    3. Interest/Cashback from 123 account - £3.63
    4. Other cashback - £8.86 ( I think)
    5. Savings from weekly budget - 0
    6. Overtime in work £70
    7. Other

    Santander 5% regular saver will be paid in March 2018.(£64.33)
    HSBC regular saver at 5% will be paid in May 2018. (£81.25)

    EBae target £215.35/£180 for DDs swimming lessons complete
    Other target £192.14/£221(remaining overpayment figure for this year) (ok to end of May

    Current Mortgage end date August 2027
    Original Mortgage end date December 2031


    Just checked my Interest and it's gone down to £83.78. While I was there I made a list of Interest from January

    Jan £95.78
    Feb £95.19
    March £93.71
    April £90.09
    May £86.44
    June £83.78

    My balance at 1 Jan was 57k and I've overpaid by 10%. Today the balance is 49k and it's really nice to see the interest go down
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 2nd Jun 17, 7:38 AM
    • 535 Posts
    • 2,309 Thanks
    SuperSecretSquirrel
    Welcome to the sub-50k club! You are doing great
    Mortgage [2013 £64k|2014 £51k|2015 £38k|2016 £26k] £19,426.93
    MN [2013-£25k|2014-£2k|2015+£16k|2016+£34k] +£41,760.64 (MFiT4:+60k)
    NW [2013 £126k|2014 £156k|2015 £190k|2016 £228k] £250,951.69 (2020:300k)
    FI [2013 -1.2%|2014 2.8%|2015 6.9%|2016 13%] 15.3%
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 3rd Jun 17, 10:52 AM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    First Ebae sale of the month gone thru and paid for an item which has been relisted 7 times. Hasn't cost me any money to relist the item only final value fee once the item sold. I currently have 17 items listed (all these items are relisted items that havnt sold previously) I need to get some new items up! But in the meantime I will just relist everything until it sells.

    I'm still really that my balance is under 50k. By January the balance should be around £47k and hoping I would have saved up £4700 (10%) to overpay in January. Need to keep reminding myself this to get motivated to list things on Ebae that would bring the balance down to £42k in January after max OP! I don't think I will manage to save £4700 in the next 6 months. But will def be focusing on saving every single penny I can to be as close to £4700.

    I do have a lottery ticket in my wallet that I havnt checked so maybe I could already be a millionaire
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 4th Jun 17, 3:30 PM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    NSD today because I didn't leave the house. Lazy day watching tv and playing with lego with DD. Happy daughter, happy mummy

    Another item sold last night with a last minute bid so two items sold and its only the 3rd day of June

    Some new cashback offers on my creditcard in store that I normally shop at so I just have to remember to plan to do one big shop rather than a few small ones. Or I might buy a gift card for the store to get the cashback and then use the gift card when I normally shop there...

    DD found 7p on the floor yday when we were out and about... she's told me shes going to keep her eyes opens to find enough money to go Disneyland

    Hope everyone has had a good weekend!

    Xx
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 5th Jun 17, 7:51 PM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    Only 5 days into the month and here are the numbers so far I've listed a few more items On Ebae last night and now have a total of 22 items active.

    1. Ebae earnings June!£8.05
    2. Surveys/mystery shopping - (£0.30 can't cash this out so I won't count this in this month)
    3. Interest/Cashback from 123 account - £3.63
    4. Other cashback - £8.86 ( I think)
    5. Savings from weekly budget - £7.13
    6. Overtime in work £70
    7. Other!

    Santander 5% regular saver will be paid in March 2018.(£64.33)
    HSBC regular saver at 5% will be paid in May 2018. (£81.25)

    EBae target £215.35/£180 for DDs swimming lessons!!complete!
    Other target £192.14/£221(remaining overpayment figure for this year) (ok to end of May

    Current Mortgage end date August 2027
    Original Mortgage end date December 2031
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 6th Jun 17, 6:16 PM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    Lots of freebies today using my shopimum app. Two baby food jars for my neice, a quark fruit pouch and some chocolate biscuits

    Also rang to close one of my credit cards which I transfered the balance off as the 0% offer ended and it will be 12 months before I can take out a new card with a new customer offer with themselves. Which is good because I'll probably transfer the original balance back to them if they have a good balance transfer offer.

    Found some 18p note books today and some other 30p bargains in wilk0s. And dinner is reduced minty lamb chops from the meat counter at Morris0ns for 94p picked up some other yellow stickered items too for 20p to 30p. Pretty good bargain day today.

    Also had a free Starbucks this morning really needed it too so glad it was a large one!!

    Car feels like it's falling apart but I used some cable ties to tie the bumper back on as the pillar may have attacked me a few days ago itll do for now until I get to a garage.
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • Tahlullah
    • By Tahlullah 6th Jun 17, 8:35 PM
    • 689 Posts
    • 4,327 Thanks
    Tahlullah
    Great news on the mortgage, you are doing really well.

    Tx
    Striving to be mortgage free.
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 7th Jun 17, 7:22 PM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    Update on the car bumper. The cable ties has fixed the problem and I can drive at 30mph without it sounding like it's falling off looks hideous but does the job for now

    Bought a 75p conditioner today at b0ots because I had a 75 extra points coupon which is equivalent to 75p in the shop so basically I've got it for free

    Also bought 2 boxes of 10 pack huggies baby wipes for £2.50 at tesc0s which is a bargain! I also give my friends boxes of wipes for a new baby rather than buying a new baby clothes as I know everyone always receives too many clothes for the first few months which is a waste. Can never have enough baby wipes.

    Took back a dress I had for DD which she didn't like and got a gift card for the store. Will be using that for school uniform basics for when she starts primary school. Also have a £4 off coupon too so should be a good bargain if I can find the right sizes.
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 9th Jun 17, 6:55 PM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    No spend day today. Am working all day tomorrow so hopefully that'll be a no spend day too. I can motivate myself to have a no spend day Sunday too I will have an extra £9 towards the overpayment so that's what's left in this week's budget.

    So I'm setting myself a mini 3 day No spend challenge.

    Another item has a bid now on Ebae. And again it's another item that I've relisted 8 times now. So fingers crossed it will all go through nicely. I still havnt gone through my wardrobe for more items to list.

    Booked two weeks off work and am hoping to take DD to Legoland. Not sure if one day is enough as I've never been there but I have searched and found a Travelodge not far for £34 And tickets I am planning on using my Clubcard vouchers so hopefully the whole trip won't cost too much. I had £200 in my topcashback which has been sitting there before I started this diary so I am going to use that money as holiday money and any extra I don't spend will go towards overpayment and then for future I will budget for trips away...

    In the oven is a lovely M&S salmon and crab en croute which i picked up with a yellow sticker for £2 rather than £10 it does serve more than one so I will portion it up and keep the rest for tomorrow.

    Hope everyone has a nice weekend xx
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • EatingTheElephant
    • By EatingTheElephant 11th Jun 17, 7:45 AM
    • 976 Posts
    • 5,017 Thanks
    EatingTheElephant
    Years ago we took the girls to Legoland, a similar deal with the travelodge and entry tickets. We were there a day and it felt right, there wasn't much we didn't get to see.
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 11th Jun 17, 10:21 AM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    The Clubcard voucher deal is great! I will only book a one day ticket and then use the other day to explore the area before going home. There's a place called bird world near there too that i can use Clubcard days out voucher for. I have £20 extra from last time I went to folly farm and we didn't end up using them all so will probably do that. Good news is I have just had a bonus £10 Clubcard voucher on my Clubcard statement which will be my ticket to Legoland

    No spend day number 2 complete I was planning on not leaving the house today to make no spend day 3 easier but I just remembered it's open farm day so I will take DD there when it opens at 11. We are going prepared with lunch and snacks so hopefully we wont make any detours on our visit. She may pester me for an ice cream so I may take £2 out of her piggy bank (my dad gives her money for this every week so not out of my budget) that still counts as a no spend day for me right

    Also I may make Monday and Tuesday a no spend day too. As I'm working it should be fairly easy if I am prepared. There's plenty of food somewhere in my house whether it's the freezer or in the cupboards so fingers crossed I can make it to Wednesday and it'll be 5 no spend days in a row

    Off to get ready for the farm now. Hope it doesn't rain!!
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • bubblycrazy
    • By bubblycrazy 11th Jun 17, 11:26 AM
    • 71 Posts
    • 162 Thanks
    bubblycrazy
    Good luck with 5 NSD in a row, that's a fab achievement.
    Do you OP your savings from weekly budget at the end of each week, or leave them until the end of the month to give you extra for other weeks?
    MFW - Original balance 28/08/2014 £52850
    Original MF date: 2049 Aiming for: 2025
    Balance 28/04/2015 £52250
    Balance 27/07/2016 £49990
    Balance 12/11/2016 £49400
    Balance 01/02/2017 £48899
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 11th Jun 17, 4:54 PM
    • 120 Posts
    • 499 Thanks
    DeterminedSingleMummy
    Before I maxed out my 10% OP Limit for the year I was transferring the money to my mortgage at the end of every week as once it's gone it's gone and I won't be tempted to spend it.

    Now any extra money I have I keep in a bank account so as soon as it's 1st Jan 2018 I can overpay as much as I can. I am aiming to have £4700 but a more realistic figure is going to be half of that. Would love to be able to max out my 10% in January and use the rest of the year to save money.

    Had a lovely day at the farm today. Tractor rides and lots if farm activities aswell as seeming the animals. Didn't have to spend a penny there as they were giving out so much stuff for free. Came home with a bag of activities too so DD was more than happy with the day. And day 3 of No spend days complete
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • PurpleFairy26
    • By PurpleFairy26 11th Jun 17, 11:02 PM
    • 1,678 Posts
    • 11,304 Thanks
    PurpleFairy26
    We went to legoland last week and had a fab time. Find the unofficial visitors guide(website) and have a read before you go. Lots of useful tips, swimwear required, where to eat picnic etc... one thing that wasn't on there was that there is a water fountain near the pirate ship to refill water bottles to save buying. Have a great time and well done on the mortgage repayments.
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